Stratified Capital

The three founding partners — Iris Y, Katrina W, and Roger S — oversee deal sourcing and portfolio construction. Iris Y leads on tokenomics and incubation, Katrina W draws on her multi-family office experience, and Roger S contributes protocol-level technical due diligence. Venture partner David H provides legal and regulatory guidance drawn from his tenure at King & Wood Mallesons.

Through founders' networks built over their prior roles as angels and advisors. Iris Y's early investments in Binance and Bybit provide connectivity to centralized exchange ecosystems and their incubated projects. David H's advisory work for Coinbase, Crypto.com, and Block.one opens lines to major protocol teams, while Roger S's involvement in JRR Crypto created relationships with EOS, Vechain, and Polkadot communities.

It is structured as a venture capital firm, not a single-family office. Founding partner Katrina W also runs the multi-family office LL Capital, but Stratified operates as a separate private equity manager focused on external limited partners.

The firm's public communications emphasize direct seed investments and incubation. No information on fund-of-fund commitments is available. The GPs' background suggests the vehicle primarily pursues direct token and equity positions in early-stage web3 companies.

The firm does not publish an explicit exclusion list. Its portfolio composition — DEX/CEX infrastructure, DePIN, AI-blockchain hybrids, gaming, and DeFi primitives — suggests it avoids non-blockchain verticals and consumer apps lacking token-centric economies.

Katrina W, a founding partner of Stratified, founded the multi-family office LL Capital in 2018. While the two entities appear legally distinct, LL Capital's presence may offer co-investment opportunities for family-office LPs seeking blockchain exposure alongside Stratified's direct deals.

The firm highlights its partners' track record of backing industry giants alongside top-tier crypto funds (Binance, Bitmain, Polkadot, Bybit rounds likely syndicated with other early-stage crypto VCs). The website doesn't detail formal co-investment policies, but the partnership's angel syndication history implies an openness to shared cap tables.